LHYAX | High Yield Fund Class A | Lord Abbett

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High Yield Fund

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Daily price w/o sales charge as of 06/09/2023

$6.14

$0.00

YTD Returns w/o sales charge as of 06/09/2023

3.30%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.
 

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Dividend Yield 1 as of 06/09/2023  

w/o sales charge 6.55%
w/ sales charge 6.41%

30-Day Standardized Yield 2 as of 05/31/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 7.09% 7.08%

Average Yield to Worst as of 04/28/2023

7.87%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Fund Basicsas of 04/28/2023

Total Net Assets
$4.37 B
Inception Date
12/31/1998
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.90%
Fund Net Expense Ratio
0.90%
Number of Holdings
615
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 2.29% -3.00% 2.29% 1.57% 3.50% 5.76%
Lipper Category Avg. High Yield Funds 3.15% -0.47% 2.79% 2.50% 3.14% -
ICE BofA U.S. High Yield Constrained Index 3.76% -0.09% 3.00% 2.92% 3.89% 5.99%
w/ sales charge 0.00% -5.14% 1.53% 1.11% 3.25% 5.66%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 2.69% -6.35% 5.63% 1.62% 3.70% 5.81%
Lipper Category Avg. High Yield Funds 3.23% -3.85% 5.45% 2.59% 3.28% -
ICE BofA U.S. High Yield Constrained Index 3.73% -3.51% 5.83% 3.05% 4.03% 6.03%
w/ sales charge 0.39% -8.44% 4.84% 1.17% 3.47% 5.72%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

RELATED CONTENT

A Powerful Trend That Could Support U.S. High Yield in 2022
December 6, 2021

We expect a surge in “rising stars”—upgrades of U.S. debt issues from high yield to investment grade—over the next two years.

Type Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 04/28/2023 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

15 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

13 Years of Industry Experience

Supported By 78 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 06/09/2023  

w/o sales charge 6.55%
w/ sales charge 6.41%

30-Day Standardized Yield 2 as of 05/31/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 7.09% 7.08%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 2.29% -3.00% 2.29% 1.57% 3.50% 5.76%
Lipper Category Avg. High Yield Funds 3.15% -0.47% 2.79% 2.50% 3.14% -
ICE BofA U.S. High Yield Constrained Index 3.76% -0.09% 3.00% 2.92% 3.89% 5.99%
w/ sales charge 0.00% -5.14% 1.53% 1.11% 3.25% 5.66%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 2.69% -6.35% 5.63% 1.62% 3.70% 5.81%
Lipper Category Avg. High Yield Funds 3.23% -3.85% 5.45% 2.59% 3.28% -
ICE BofA U.S. High Yield Constrained Index 3.73% -3.51% 5.83% 3.05% 4.03% 6.03%
w/ sales charge 0.39% -8.44% 4.84% 1.17% 3.47% 5.72%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns ICE BofA U.S. High Yield Constrained Index
2022 -13.75% -11.16%
2021 6.15% 5.35%
2020 4.49% 6.07%
2019 15.07% 14.41%
2018 -5.15% -2.27%
2017 8.50% 7.48%
2016 15.84% 17.49%
2015 -2.26% -4.61%
2014 3.46% 2.51%
2013 9.69% 7.41%
2012 16.50% -
2011 3.15% -
2010 14.31% -
2009 50.51% -
2008 -23.42% -
2007 2.43% -
2006 9.94% -
2005 1.15% -
2004 10.42% -
2003 21.59% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 2.69% - - - 3.30%
2022 -5.43% -10.72% -1.48% 3.69% -13.75%
2021 1.73% 3.11% 0.63% 0.57% 6.15%
2020 -16.65% 10.72% 5.69% 7.13% 4.49%
2019 7.50% 3.77% 0.28% 2.86% 15.07%
2018 -1.07% -0.04% 2.54% -6.47% -5.15%
2017 2.82% 1.98% 2.45% 1.00% 8.50%
2016 2.01% 5.52% 5.46% 2.05% 15.84%
2015 3.05% 0.86% -4.23% -1.81% -2.26%
2014 2.92% 3.38% -1.83% -0.95% 3.46%
2013 3.97% -1.03% 2.51% 3.99% 9.69%
2012 6.63% 0.36% 5.06% 3.61% 16.50%
2011 3.82% 1.07% -7.02% 5.73% 3.15%
2010 4.93% -0.92% 6.33% 3.40% 14.31%
2009 5.95% 17.32% 14.23% 6.01% 50.51%
2008 -3.43% 1.99% -7.81% -15.68% -23.42%
2007 2.98% 0.17% 0.48% -1.17% 2.43%
2006 2.57% 0.01% 2.80% 4.27% 9.94%
2005 -1.74% 1.49% 0.87% 0.56% 1.15%
2004 1.07% -0.32% 4.34% 5.04% 10.42%
2003 4.06% 8.25% 2.40% 5.41% 21.59%
2002 1.51% -3.59% -3.78% 6.10% -0.10%
2001 5.14% -1.67% -3.99% 6.15% 5.36%
2000 -1.66% 0.99% 0.31% -2.65% -3.01%
1999 3.43% -0.11% -0.81% 3.99% 6.57%
1998 - - - - 0.80%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 03/31/2023

The chart begins on the Fund's inception date of 12/31/1998.

Based on a hypothetical Class A share investment of $10,000 on 12/31/1998 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 04/28/2023

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 03/31/2023

  • The Fund continued to be primarily positioned in higher quality bonds with an emphasis on liquidity. In recent months, we have been focused on maintaining a balanced risk exposure within the Fund. That being said, we continued to favor higher quality credits and monitor spread risk. Specifically, we continued to focus on BB credits, targeting shorter duration bonds with high coupons / attractive carry. We also continued to be underweight CCC credits given their sensitivity to uncertainty in the economic environment. We remain diligent and selective with respect to increasing the Fund’s spread risk in the near term, particularly to Single B rated bonds.
  • We are constructive on the Basic Industry sector, which is the top overweight sector allocation. We continue to favor investments in the Basic Industry sector, primarily companies within the Metals and Mining and Steel subsectors. We believe these issuers have better upside potential given the recent selloff in more cyclical parts of the high yield space throughout the beginning of 2023. We also expect these companies to be supported by the economic reopening in China, which should provide a tailwind for commodity prices. We had also added to investments within the Building Materials subsector that yielded attractive entry points but have more recently trimmed this allocation in response to sensitivity to ongoing rate volatility. We also remain overweight certain defensive sectors like Utilities as a ballast to these cyclical overweights.
  • We continue to see potential opportunity in the Energy sector. The Energy sector continued to exhibit defensive characteristics, particularly as the high yield energy index trades at much tighter spreads than the overall high yield market. However, the sector pulled back this quarter amid a stretch of softer oil prices and concerns of a decreased global economic growth outlook. We reduced holdings that we believed yielded rich valuations as well as several lower-quality, higher beta high yield issues. However, we continue to believe that Energy issuers should continue to be supported by relatively higher oil prices given the ongoing inadequate global capacity issues. We also continue to view Energy as a much more defensive sector than in prior periods given relatively healthy balance sheets.
  • The Fund decreased its allocation to out-of-index sectors. We generally believe that select exposures to these sectors can offer attractive risk-reward opportunities, potential Fund diversification benefits and avenues for liquidity. Towards the tail-end of the quarter, we focused on reducing this allocation to non-index securities and adding to core high yield bond holdings. In February, prior to the banking-induced headwinds, we had added bank loans to the Fund due to their limited duration exposure relative to bonds, which we view as an effective hedge against interest rate risk, as well as their attractive yields relative to bonds. However, we specifically reduced bank loan exposure later in the quarter, as we believe the asset class may be more sensitive to recessionary impacts. We also pared down the Fund’s allocation to convertible bonds, lowering equity-like exposure. The Fund continued to hold modest allocations to EM bonds, as well as smaller allocations to investment grade bonds. Notably, exposure to non-benchmark asset classes resides at the lower end of the range of the last 12 months as we view the best relative value to be within the high yield sector.

Portfolio Details as of 04/28/2023

Total Net Assets
$4.37 B
Number of Issues
615
Average Coupon
5.75%
Average Maturity
5.67 Years
Average Effective Duration
4.06 Years
Average Yield to Worst
7.87%

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Holding Coupon Maturity Assets
Occidental Petroleum Corp 6.125% 01/01/2031 0.8%
Tenet Healthcare Corp 4.375% 01/15/2030 0.8%
CCO Holdings LLC / CCO Holdings Capital Corp 5.000% 02/01/2028 0.7%
Ford Motor Credit Co LLC 2.900% 02/10/2029 0.7%
Medline Borrower LP 3.875% 04/01/2029 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp 4.750% 03/01/2030 0.6%
Perrigo Finance Unlimited Co 4.400% 06/15/2030 0.6%
Altice France SA/France 5.125% 07/15/2029 0.5%
Ford Motor Credit Co LLC 4.000% 11/13/2030 0.5%
CCO Holdings LLC / CCO Holdings Capital Corp 4.500% 08/15/2030 0.5%
% of Total Assets 6.4%
Holding Coupon Maturity Assets
Occidental Petroleum Corp6.125% 01/01/20310.8%
Tenet Healthcare Corp4.375% 01/15/20300.8%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.7%
Ford Motor Credit Co LLC2.900% 02/10/20290.7%
Medline Borrower LP3.875% 04/01/20290.7%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.6%
Perrigo Finance Unlimited Co4.400% 06/15/20300.6%
Altice France SA/France5.125% 07/15/20290.5%
Ford Motor Credit Co LLC4.000% 11/13/20300.5%
CCO Holdings LLC / CCO Holdings Capital Corp4.500% 08/15/20300.5%
Molina Healthcare Inc3.875% 11/15/20300.5%
GS Mortgage Securities Corp Trust 2021-ROSS MZ14.448% 06/15/20260.4%
TransDigm Inc4.625% 01/15/20290.4%
American Airlines Inc11.750% 07/15/20250.4%
Virgin Media Secured Finance PLC5.500% 05/15/20290.4%
Vistra Operations Co LLC4.375% 05/01/20290.4%
Post Holdings Inc4.500% 09/15/20310.4%
United Rentals North America Inc3.875% 02/15/20310.4%
180 Medical Inc3.875% 10/15/20290.4%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.4%
TransDigm Inc5.500% 11/15/20270.4%
Lamb Weston Holdings Inc4.125% 01/31/20300.4%
HealthEquity Inc4.500% 10/01/20290.4%
Royal Caribbean Cruises Ltd8.250% 01/15/20290.4%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.4%
Ford Motor Co3.250% 02/12/20320.4%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.4%
Jazz Securities DAC4.375% 01/15/20290.4%
Cloud Software Group Inc6.500% 03/31/20290.4%
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.3%
Atkore Inc4.250% 06/01/20310.3%
MGM China Holdings Ltd5.875% 05/15/20260.3%
Gulfport Energy Corp8.000% 05/17/20260.3%
Churchill Downs Inc4.750% 01/15/20280.3%
Vermilion Energy Inc6.875% 05/01/20300.3%
Oceaneering International Inc6.000% 02/01/20280.3%
Matador Resources Co5.875% 09/15/20260.3%
Crescent Energy Finance LLC7.250% 05/01/20260.3%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.3%
SunCoke Energy Inc4.875% 06/30/20290.3%
Coeur Mining Inc5.125% 02/15/20290.3%
Option Care Health Inc4.375% 10/31/20290.3%
Bombardier Inc6.000% 02/15/20280.3%
Pattern Energy Operations LP / Pattern Energy Operations Inc4.500% 08/15/20280.3%
Vital Energy Inc10.125% 01/15/20280.3%
CDI Escrow Issuer Inc5.750% 04/01/20300.3%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.3%
Acadia Healthcare Co Inc5.000% 04/15/20290.3%
Hecla Mining Co7.250% 02/15/20280.3%
Air Canada3.875% 08/15/20260.3%
MEG Energy Corp5.875% 02/01/20290.3%
H&E Equipment Services Inc3.875% 12/15/20280.3%
DaVita Inc4.625% 06/01/20300.3%
FMG Resources August 2006 Pty Ltd6.125% 04/15/20320.3%
Univision Communications Inc7.375% 06/30/20300.3%
CHS/Community Health Systems Inc5.250% 05/15/20300.3%
Precision Drilling Corp6.875% 01/15/20290.3%
Baytex Energy Corp8.750% 04/01/20270.3%
Earthstone Energy Holdings LLC8.000% 04/15/20270.3%
Apache Corp5.100% 09/01/20400.3%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.3%
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp8.000% 04/01/20290.3%
Sealed Air Corp6.875% 07/15/20330.3%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.3%
DISH Network Corp11.750% 11/15/20270.3%
Service Properties Trust7.500% 09/15/20250.3%
M/I Homes Inc4.950% 02/01/20280.3%
BEP Ulterra Holdings Inc10.275% 11/26/20250.3%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.3%
Dufry One BV3.375% 04/15/20280.3%
Viper Energy Partners LP5.375% 11/01/20270.3%
1011778 BC ULC / New Red Finance Inc4.000% 10/15/20300.3%
ROBLOX Corp3.875% 05/01/20300.3%
Frontier Communications Holdings LLC5.875% 10/15/20270.3%
Loarre Investments Sarl6.500% 05/15/20290.3%
NRG Energy Inc3.875% 02/15/20320.3%
Berry Petroleum Co LLC7.000% 02/15/20260.3%
Callon Petroleum Co8.000% 08/01/20280.3%
Crocs Inc4.125% 08/15/20310.3%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.3%
AG TTMT Escrow Issuer LLC8.625% 09/30/20270.3%
Caesars Entertainment Inc4.625% 10/15/20290.3%
Roller Bearing Co of America Inc4.375% 10/15/20290.3%
Synovus Financial Corp5.900% 02/07/20290.3%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc4.125% 08/15/20260.3%
Ingles Markets Inc4.000% 06/15/20310.3%
Taseko Mines Ltd7.000% 02/15/20260.3%
NextEra Energy Operating Partners LP4.500% 09/15/20270.3%
Dycom Industries Inc4.500% 04/15/20290.3%
United Airlines Inc4.625% 04/15/20290.3%
VZ Secured Financing BV5.000% 01/15/20320.3%
Olin Corp5.000% 02/01/20300.3%
Ingevity Corp3.875% 11/01/20280.2%
SPCM SA3.375% 03/15/20300.2%
Calpine Corp3.750% 03/01/20310.2%
Station Casinos LLC4.625% 12/01/20310.2%
TerraForm Power Operating LLC4.750% 01/15/20300.2%
Stonegate Pub Co Financing 2019 PLC8.250% 07/31/20250.2%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.2%
Delta Air Lines Inc3.750% 10/28/20290.2%
Builders FirstSource Inc6.375% 06/15/20320.2%
ModivCare Escrow Issuer Inc5.000% 10/01/20290.2%
Belo Corp7.250% 09/15/20270.2%
Wynn Macau Ltd5.500% 10/01/20270.2%
Coronado Finance Pty Ltd10.750% 05/15/20260.2%
Virgin Media Finance PLC5.000% 07/15/20300.2%
Avis Budget Car Rental LLC / Avis Budget Finance Inc4.750% 04/01/20280.2%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.2%
EnerSys4.375% 12/15/20270.2%
ATS Corp4.125% 12/15/20280.2%
Graphic Packaging International LLC3.500% 03/01/20290.2%
Synaptics Inc4.000% 06/15/20290.2%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.2%
AMN Healthcare Inc4.000% 04/15/20290.2%
US Acute Care Solutions LLC6.375% 03/01/20260.2%
Spirit AeroSystems Inc9.375% 11/30/20290.2%
Compass Minerals International Inc6.750% 12/01/20270.2%
Resideo Funding Inc4.000% 09/01/20290.2%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/06/20310.2%
Tri Pointe Homes Inc5.250% 06/01/20270.2%
Entegris Inc3.625% 05/01/20290.2%
NESCO Holdings II Inc5.500% 04/15/20290.2%
Lindblad Expeditions LLC6.750% 02/15/20270.2%
Permian Resources Operating LLC5.375% 01/15/20260.2%
DPL Inc4.350% 04/15/20290.2%
TK Elevator Midco GmbH4.375% 07/15/20270.2%
Performance Food Group Inc4.250% 08/01/20290.2%
Perimeter Master Note Business Trust5.190% 05/15/20270.2%
Carpenter Technology Corp7.625% 03/15/20300.2%
Nine Energy Service Inc13.000% 02/01/20280.2%
SM Energy Co6.625% 01/15/20270.2%
Intesa Sanpaolo SpA4.198% 06/01/20320.2%
VistaJet Malta Finance PLC / XO Management Holding Inc7.875% 05/01/20270.2%
Vmed O2 UK Financing I PLC4.750% 07/15/20310.2%
Calpine Corp5.000% 02/01/20310.2%
Twilio Inc3.625% 03/15/20290.2%
Bath & Body Works Inc6.625% 10/01/20300.2%
Life Time Inc5.750% 01/15/20260.2%
DISH DBS Corp5.875% 11/15/20240.2%
Altice France SA/France8.125% 02/01/20270.2%
Boyne USA Inc4.750% 05/15/20290.2%
Civitas Resources Inc5.000% 10/15/20260.2%
BK LC Lux Finco1 Sarl5.250% 04/30/20290.2%
SeaWorld Parks & Entertainment Inc5.250% 08/15/20290.2%
California Resources Corp7.125% 02/01/20260.2%
Howard Hughes Corp/The5.375% 08/01/20280.2%
Gen Digital Inc7.125% 09/30/20300.2%
Apache Corp4.750% 04/15/20430.2%
Ashton Woods USA LLC / Ashton Woods Finance Co4.625% 04/01/20300.2%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.2%
Imola Merger Corp4.750% 05/15/20290.2%
Welltec International ApS8.250% 10/15/20260.2%
United Airlines Inc4.375% 04/15/20260.2%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.2%
Organon & Co / Organon Foreign Debt Co-Issuer BV5.125% 04/30/20310.2%
ON Semiconductor Corp3.875% 09/01/20280.2%
Herc Holdings Inc5.500% 07/15/20270.2%
Chobani LLC / Chobani Finance Corp Inc4.625% 11/15/20280.2%
Rockcliff Energy II LLC5.500% 10/15/20290.2%
Ford Motor Co6.100% 08/19/20320.2%
NCL Corp Ltd5.875% 02/15/20270.2%
Service Corp International/US3.375% 08/15/20300.2%
Carnival Corp4.000% 08/01/20280.2%
Ardonagh Midco 2 PLC11.500% 01/15/20270.2%
Griffon Corp5.750% 03/01/20280.2%
Allied Universal Holdco LLC / Allied Universal Finance Corp9.750% 07/15/20270.2%
DT Midstream Inc4.125% 06/15/20290.2%
Levi Strauss & Co3.500% 03/01/20310.2%
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC6.000% 06/15/20270.2%
Owens-Brockway Glass Container Inc6.625% 05/13/20270.2%
Rolls-Royce PLC5.750% 10/15/20270.2%
PennyMac Financial Services Inc5.750% 09/15/20310.2%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.2%
Murphy Oil Corp6.375% 07/15/20280.2%
TransAlta Corp7.750% 11/15/20290.2%
Novelis Corp3.875% 08/15/20310.2%
Go Daddy Operating Co LLC / GD Finance Co Inc3.500% 03/01/20290.2%
CrownRock LP / CrownRock Finance Inc5.000% 05/01/20290.2%
Murphy Oil USA Inc3.750% 02/15/20310.2%
IRB Holding Corp8.082% 12/15/20270.2%
United States Steel Corp6.650% 06/01/20370.2%
Warrior Met Coal Inc7.875% 12/01/20280.2%
Port of Newcastle Investments Financing Pty Ltd5.900% 11/24/20310.2%
Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC4.000% 10/15/20270.2%
Mohegan Tribal Gaming Authority8.000% 02/01/20260.2%
BellRing Brands Inc7.000% 03/15/20300.2%
Popular Inc7.250% 03/13/20280.2%
Service Logic Acquisition Inc9.025% 10/29/20270.2%
Picard Bondco SA5.375% 07/01/20270.2%
PG&E Corp5.000% 07/01/20280.2%
Spirit AeroSystems Inc4.600% 06/15/20280.2%
AG Issuer LLC6.250% 03/01/20280.2%
Melco Resorts Finance Ltd5.375% 12/04/20290.2%
INEOS Finance PLC6.750% 05/15/20280.2%
Patterson-UTI Energy Inc3.950% 02/01/20280.2%
Allwyn Entertainment Financing UK PLC7.875% 04/30/20290.2%
Marriott Ownership Resorts Inc4.500% 06/15/20290.2%
Pike Corp5.500% 09/01/20280.2%
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp7.125% 02/15/20310.2%
Premier Foods Finance PLC3.500% 10/15/20260.2%
Catalent Pharma Solutions Inc3.500% 04/01/20300.2%
Charles River Laboratories International Inc4.000% 03/15/20310.2%
LABL Inc6.750% 07/15/20260.2%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.750% 04/20/20290.2%
CNX Resources Corp6.000% 01/15/20290.2%
AA Bond Co Ltd6.500% 01/31/20260.2%
Alta Equipment Group Inc5.625% 04/15/20260.2%
LSB Industries Inc6.250% 10/15/20280.2%
American Airlines Group Inc3.750% 03/01/20250.2%
Comstock Resources Inc5.875% 01/15/20300.2%
Sabre GLBL Inc9.250% 04/15/20250.2%
Weatherford International Ltd8.625% 04/30/20300.2%
Amsted Industries Inc4.625% 05/15/20300.2%
Arconic Corp6.125% 02/15/20280.2%
Southwestern Energy Co8.375% 09/15/20280.2%
US Foods Inc4.625% 06/01/20300.2%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.2%
Legacy LifePoint Health LLC6.750% 04/15/20250.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Inter Media and Communication SpA6.750% 02/09/20270.2%
Alteryx Inc8.750% 03/15/20280.2%
Select Medical Corp6.250% 08/15/20260.2%
Azul Investments LLP7.250% 06/15/20260.2%
Tap Rock Resources LLC7.000% 10/01/20260.2%
TALEN ENERGY SUPPLY LLC6.500% 06/01/20250.2%
Southwestern Energy Co5.375% 02/01/20290.2%
TransDigm Inc6.750% 08/15/20280.2%
Bellis Finco PLC4.000% 02/16/20270.2%
Texas Capital Bank NA5.250% 01/31/20260.2%
SPX FLOW Inc8.750% 04/01/20300.2%
Pilgrim's Pride Corp4.250% 04/15/20310.2%
Gap Inc/The3.875% 10/01/20310.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
Arcosa Inc4.375% 04/15/20290.2%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.2%
Triumph Group Inc9.000% 03/15/20280.2%
TerraForm Power Operating LLC5.000% 01/31/20280.2%
CNX Midstream Partners LP4.750% 04/15/20300.2%
Holly Energy Partners LP / Holly Energy Finance Corp6.375% 04/15/20270.2%
SCIL IV LLC / SCIL USA Holdings LLC5.375% 11/01/20260.2%
Chart Industries Inc7.500% 01/01/20300.2%
Texas Capital Bancshares Inc4.000% 05/06/20310.2%
Frontier Communications Holdings LLC6.000% 01/15/20300.2%
Rand Parent LLC8.500% 02/15/20300.2%
ATI Inc5.125% 10/01/20310.2%
TreeHouse Foods Inc4.000% 09/01/20280.2%
Hilton Domestic Operating Co Inc3.625% 02/15/20320.2%
Permian Resources Operating LLC6.875% 04/01/20270.2%
Block Inc3.500% 06/01/20310.2%
Global Atlantic Fin Co4.700% 10/15/20510.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
Travel + Leisure Co6.625% 07/31/20260.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
Asbury Automotive Group Inc5.000% 02/15/20320.2%
Allison Transmission Inc3.750% 01/30/20310.2%
Vital Energy Inc7.750% 07/31/20290.2%
Cloud Software Group Inc9.000% 09/30/20290.2%
ArcelorMittal SA6.800% 11/29/20320.2%
Empire Resorts Inc7.750% 11/01/20260.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.2%
Compass Power Generation LLC9.346% 04/14/20290.2%
Nabors Industries Inc7.375% 05/15/20270.2%
Open Text Corp8.582% 01/31/20300.2%
Standard Industries Inc/NJ3.375% 01/15/20310.2%
Teva Pharmaceutical Finance Netherlands III BV5.125% 05/09/20290.2%
Advanced Drainage Systems Inc6.375% 06/15/20300.2%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.375% 06/15/20290.2%
Alloy Finco Ltd0.500% 03/06/20250.2%
Bloomin' Brands Inc / OSI Restaurant Partners LLC5.125% 04/15/20290.2%
Mineral Resources Ltd8.500% 05/01/20300.2%
Marks & Spencer PLC4.500% 07/10/20270.2%
Wyndham Hotels & Resorts Inc4.375% 08/15/20280.2%
Jacobs Entertainment Inc6.750% 02/15/20290.2%
Buckeye Partners LP4.125% 12/01/20270.2%
JELD-WEN Inc4.875% 12/15/20270.2%
Eco Material Technologies Inc7.875% 01/31/20270.2%
American Builders & Contractors Supply Co Inc4.000% 01/15/20280.2%
Grinding Media Inc8.701% 10/12/20280.2%
Range Resources Corp4.750% 02/15/20300.2%
Punch Finance PLC6.125% 06/30/20260.2%
Iliad Holding SASU7.000% 10/15/20280.2%
Commercial Metals Co4.125% 01/15/20300.2%
APi Group DE Inc4.750% 10/15/20290.2%
Terex Corp5.000% 05/15/20290.2%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.2%
Transportes Aereos Portugueses SA5.625% 12/02/20240.2%
VOC Escrow Ltd5.000% 02/15/20280.2%
Buckeye Partners LP3.950% 12/01/20260.2%
Newell Brands Inc6.625% 09/15/20290.2%
Cullinan Holdco Scsp4.625% 10/15/20260.2%
Adient Global Holdings Ltd7.000% 04/15/20280.2%
McAfee Corp7.375% 02/15/20300.2%
Chord Energy Corp6.375% 06/01/20260.2%
CNX Resources Corp7.375% 01/15/20310.2%
Caesars Entertainment Inc7.000% 02/15/20300.2%
BCP V Modular Services Finance II PLC4.750% 11/30/20280.2%
Kinetik Holdings LP5.875% 06/15/20300.2%
PARKWAY GENERATION LLC9.902% 02/18/20290.2%
NCL Corp Ltd5.875% 03/15/20260.2%
GIBSON BRANDS PRIVATE EQUITY0.000% -0.2%
Scotts Miracle-Gro Co/The4.000% 04/01/20310.2%
Adient Global Holdings Ltd8.250% 04/15/20310.2%
Full House Resorts Inc8.250% 02/15/20280.2%
Aramark Services Inc5.000% 02/01/20280.2%
Forestar Group Inc3.850% 05/15/20260.2%
Navient Corp4.875% 03/15/20280.2%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
Science Applications International Corp4.875% 04/01/20280.1%
Garda World Security Corp7.750% 02/15/20280.1%
Minerals Technologies Inc5.000% 07/01/20280.1%
Grifols Escrow Issuer SA4.750% 10/15/20280.1%
PRA Group Inc8.375% 02/01/20280.1%
Pinewood Finance Co Ltd3.625% 11/15/20270.1%
APi Group DE Inc4.125% 07/15/20290.1%
WMG Acquisition Corp3.750% 12/01/20290.1%
Valvoline Inc3.625% 06/15/20310.1%
TK Elevator US Newco Inc5.250% 07/15/20270.1%
Vista Outdoor Inc4.500% 03/15/20290.1%
Penn Entertainment Inc4.125% 07/01/20290.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc4.750% 04/30/20270.1%
Great Lakes Dredge & Dock Corp5.250% 06/01/20290.1%
Kosmos Energy Ltd7.500% 03/01/20280.1%
White Cap Buyer LLC6.875% 10/15/20280.1%
Kernel Holding SA6.500% 10/17/20240.1%
Royal Caribbean Cruises Ltd4.250% 07/01/20260.1%
Elastic NV4.125% 07/15/20290.1%
Jaguar Land Rover Automotive PLC4.500% 10/01/20270.1%
Gray Escrow II Inc5.375% 11/15/20310.1%
CSC Holdings LLC6.500% 02/01/20290.1%
International Game Technology PLC5.250% 01/15/20290.1%
Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.1%
Range Resources Corp8.250% 01/15/20290.1%
Crocs Inc8.582% 02/20/20290.1%
Ascent Resources Utica Holdings LLC / ARU Finance Corp5.875% 06/30/20290.1%
SierraCol Energy Andina LLC6.000% 06/15/20280.1%
New Enterprise Stone & Lime Co Inc9.750% 07/15/20280.1%
Venture Global Calcasieu Pass LLC4.125% 08/15/20310.1%
Vistra Corp7.000% 06/15/21710.1%
Madison IAQ LLC8.302% 06/21/20280.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Watco Cos LLC / Watco Finance Corp6.500% 06/15/20270.1%
Gartner Inc3.750% 10/01/20300.1%
Mercer International Inc5.125% 02/01/20290.1%
Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
CSC Holdings LLC11.250% 05/15/20280.1%
Afflelou SAS4.250% 05/19/20260.1%
Hess Midstream Operations LP5.125% 06/15/20280.1%
Clarios Global LP / Clarios US Finance Co6.750% 05/15/20280.1%
Clean Harbors Inc6.375% 02/01/20310.1%
Lorca Telecom Bondco SA4.000% 09/18/20270.1%
CPV Shore Holdings LLC8.780% 12/29/20250.1%
Engineered Components & Systems LLC10.948% 08/02/20280.1%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.1%
Douglas GmbH6.000% 04/08/20260.1%
Carnival Holdings Bermuda Ltd10.375% 05/01/20280.1%
Howmet Aerospace Inc3.000% 01/15/20290.1%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.1%
UPC Broadband Finco BV4.875% 07/15/20310.1%
Allegiant Travel Co7.250% 08/15/20270.1%
Mineral Resources Ltd8.000% 11/01/20270.1%
Studio City Co Ltd7.000% 02/15/20270.1%
Royal Caribbean Cruises Ltd9.250% 01/15/20290.1%
Sealed Air Corp5.000% 04/15/20290.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
Compass Minerals International Inc4.875% 07/15/20240.1%
Entegris Escrow Corp4.750% 04/15/20290.1%
Builders FirstSource Inc4.250% 02/01/20320.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
Madison IAQ LLC5.875% 06/30/20290.1%
Royal Caribbean Cruises Ltd11.625% 08/15/20270.1%
GYP Holdings III Corp4.625% 05/01/20290.1%
Armor Holdco Inc8.500% 11/15/20290.1%
CHS/Community Health Systems Inc6.125% 04/01/20300.1%
Topgolf Callaway Brands Corp8.582% 03/15/20300.1%
PGT Innovations Inc4.375% 10/01/20290.1%
Tank Holding Corp10.832% 03/31/20280.1%
Calpine Corp4.625% 02/01/20290.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Murphy Oil USA Inc4.750% 09/15/20290.1%
Century Communities Inc3.875% 08/15/20290.1%
EFS Cogen Holdings I LLC8.660% 10/01/20270.1%
Husky III Holding Ltd13.000% 02/15/20250.1%
Stena International SA7.250% 02/15/20280.1%
Callon Petroleum Co7.500% 06/15/20300.1%
Ford Motor Credit Co LLC7.350% 11/04/20270.1%
Buckeye Partners LP9.293% 01/22/20780.1%
Occidental Petroleum Corp6.450% 09/15/20360.1%
Summit Materials LLC / Summit Materials Finance Corp5.250% 01/15/20290.1%
Seaspan Corp5.500% 08/01/20290.1%
Bread Financial Holdings Inc4.750% 12/15/20240.1%
Kontoor Brands Inc4.125% 11/15/20290.1%
Boise Cascade Co4.875% 07/01/20300.1%
United States Steel Corp6.875% 03/01/20290.1%
Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC4.750% 01/15/20290.1%
Jones Deslauriers Insurance Management Inc10.500% 12/15/20300.1%
Atlantica Sustainable Infrastructure PLC4.125% 06/15/20280.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc10.750% 06/01/20280.1%
Matterhorn Telecom SA4.000% 11/15/20270.1%
MHP Lux SA6.250% 09/19/20290.1%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.1%
Sotheby's7.375% 10/15/20270.1%
Pampa Energia SA7.500% 01/24/20270.1%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.1%
Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.1%
LSF11 A5 HoldCo LLC6.625% 10/15/20290.1%
AI Candelaria Spain SA7.500% 12/15/20280.1%
MGM Resorts International4.750% 10/15/20280.1%
XPO Escrow Sub LLC7.500% 11/15/20270.1%
Cullinan Holdco Scsp4.625% 10/15/20260.1%
Golden Goose SpA/Milano7.529% 05/14/20270.1%
Live Nation Entertainment Inc4.750% 10/15/20270.1%
Mueller Water Products Inc4.000% 06/15/20290.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
Hudbay Minerals Inc4.500% 04/01/20260.1%
Ashtead Capital Inc5.500% 08/11/20320.1%
Darling Ingredients Inc6.000% 06/15/20300.1%
Trivium Packaging Finance BV6.404% 08/15/20260.1%
Ritchie Bros Holdings Inc7.750% 03/15/20310.1%
Post Holdings Inc4.625% 04/15/20300.1%
AthenaHealth Group Inc6.500% 02/15/20300.1%
Crowdstrike Holdings Inc3.000% 02/15/20290.1%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 10/15/20270.1%
BWX Technologies Inc4.125% 04/15/20290.1%
Enerflex Ltd9.000% 10/15/20270.1%
Arko Corp5.125% 11/15/20290.1%
Benteler International AG9.375% 05/15/20280.1%
Chesapeake Energy Corp6.750% 04/15/20290.1%
PTC Inc4.000% 02/15/20280.1%
CHS/Community Health Systems Inc6.875% 04/15/20290.1%
CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.1%
Baytex Energy Corp8.500% 04/30/20300.1%
Outfront Media Capital LLC / Outfront Media Capital Corp4.250% 01/15/20290.1%
Ahlstrom Holding 3 Oy4.875% 02/04/20280.1%
Perimeter Master Note Business Trust8.130% 05/15/20270.1%
Tenet Healthcare Corp6.125% 10/01/20280.1%
Juventus Football Club SpA3.375% 02/19/20240.1%
Nordstrom Inc4.375% 04/01/20300.1%
ACBL HLDG CORP0.000% -0.1%
Venture Global Calcasieu Pass LLC3.875% 11/01/20330.1%
Fluor Corp4.250% 09/15/20280.1%
Hunt Cos Inc5.250% 04/15/20290.1%
IHO Verwaltungs GmbH8.750% 05/15/20280.1%
Pactiv Evergreen Group Holdings Inc8.347% 09/24/20280.1%
LABL Inc9.500% 11/01/20280.1%
Bristow Group Inc6.875% 03/01/20280.1%
OneMain Finance Corp4.000% 09/15/20300.1%
SK Invictus Intermediate II Sarl5.000% 10/30/20290.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.1%
Navient Corp5.500% 03/15/20290.1%
Harsco Corp5.750% 07/31/20270.1%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.1%
Wabash National Corp4.500% 10/15/20280.1%
Hilton Domestic Operating Co Inc3.750% 05/01/20290.1%
SCIH Salt Holdings Inc4.875% 05/01/20280.1%
City Football Group Ltd8.273% 07/21/20280.1%
American Axle & Manufacturing Inc5.000% 10/01/20290.1%
Castlelake Aviation One DAC7.783% 10/22/20270.1%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.1%
Beacon Roofing Supply Inc4.125% 05/15/20290.1%
Carnival Corp9.875% 08/01/20270.1%
PBF Holding Co LLC / PBF Finance Corp7.250% 06/15/20250.1%
MercadoLibre Inc2.375% 01/14/20260.1%
Nouryon USA LLC8.990% 04/03/20280.1%
SRS Distribution Inc4.625% 07/01/20280.1%
Williams Scotsman International Inc4.625% 08/15/20280.1%
LCM Investments Holdings II LLC4.875% 05/01/20290.1%
Charles River Laboratories International Inc4.250% 05/01/20280.1%
Dornoch Debt Merger Sub Inc6.625% 10/15/20290.1%
Transocean Inc7.500% 04/15/20310.1%
BCPE Empire Holdings Inc7.625% 05/01/20270.1%
USIC Holdings Inc11.525% 05/14/20290.1%
KUEHG Corp8.909% 02/21/20250.1%
Mersin Uluslararasi Liman Isletmeciligi AS5.375% 11/15/20240.1%
Mauser Packaging Solutions Holding Co8.803% 08/14/20260.1%
McGraw-Hill Education Inc5.750% 08/01/20280.1%
Uber Technologies Inc7.870% 03/03/20300.1%
Carrols Restaurant Group Inc5.875% 07/01/20290.1%
Crescent Energy Finance LLC9.250% 02/15/20280.1%
Motion Bondco DAC6.625% 11/15/20270.1%
Nexstar Media Inc4.750% 11/01/20280.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.625% 10/15/20270.1%
Aston Martin Capital Holdings Ltd10.500% 11/30/20250.1%
MGM Resorts International4.625% 09/01/20260.1%
SCIH Salt Holdings Inc6.625% 05/01/20290.1%
Methanex Corp5.250% 12/15/20290.1%
Noble Finance II LLC8.000% 04/15/20300.1%
SRS Distribution Inc6.000% 12/01/20290.1%
Boyd Gaming Corp4.750% 06/15/20310.1%
ASP Unifrax Holdings Inc5.250% 09/30/20280.1%
Aegea Finance Sarl6.750% 05/20/20290.1%
Clearway Energy Operating LLC3.750% 02/15/20310.1%
MIWD Holdco II LLC / MIWD Finance Corp5.500% 02/01/20300.1%
Amynta Agency Borrower Inc9.991% 02/28/20280.1%
Live Nation Entertainment Inc3.750% 01/15/20280.1%
Cedar Fair LP5.250% 07/15/20290.1%
Valaris Ltd8.375% 04/30/20300.1%
WMG Acquisition Corp3.000% 02/15/20310.1%
Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL5.250% 04/27/20290.1%
Manitowoc Co Inc/The9.000% 04/01/20260.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Royal Caribbean Cruises Ltd7.250% 01/15/20300.1%
Trident TPI Holdings Inc12.750% 12/31/20280.1%
EnLink Midstream LLC6.500% 09/01/20300.1%
CSC Holdings LLC4.125% 12/01/20300.1%
Canacol Energy Ltd5.750% 11/24/20280.1%
Sealed Air Corp/Sealed Air Corp US6.125% 02/01/20280.1%
Axalta Coating Systems LLC3.375% 02/15/20290.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc6.000% 02/15/20280.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
US 10YR NOTE (CBT)Jun230.000% 06/30/20230.1%
Tronox Inc4.625% 03/15/20290.1%
Permian Resources Operating LLC5.875% 07/01/20290.1%
CLAIRES HOLDINGS0.000% -0.1%
Service Properties Trust5.250% 02/15/20260.1%
First Quantum Minerals Ltd6.875% 10/15/20270.1%
1011778 BC ULC / New Red Finance Inc3.500% 02/15/20290.1%
Finnair Oyj4.250% 05/19/20250.1%
Trivium Packaging Finance BV5.500% 08/15/20260.1%
Venture Global Calcasieu Pass LLC3.875% 08/15/20290.1%
American Airlines Inc7.250% 02/15/20280.1%
CHS/Community Health Systems Inc4.750% 02/15/20310.1%
UTEX INDUSTRIES0.000% -0.1%
ZF North America Capital Inc7.125% 04/14/20300.1%
Ritchie Bros Holdings Inc6.750% 03/15/20280.1%
US ULTRA BOND CBT Jun230.000% 06/30/20230.1%
Stena International SA7.250% 02/15/20280.1%
Talen Energy Supply LLC6.500% 06/01/20250.1%
Papa John's International Inc3.875% 09/15/20290.1%
Shimao Group Holdings Ltd5.200% 01/16/20270.1%
NSG Holdings LLC / NSG Holdings Inc7.750% 12/15/20250.1%
Scotts Miracle-Gro Co/The5.250% 12/15/20260.1%
First Quantum Minerals Ltd6.875% 03/01/20260.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Post Holdings Inc5.500% 12/15/20290.1%
NCL Corp Ltd8.375% 02/01/20280.1%
Country Garden Holdings Co Ltd3.125% 10/22/20250.1%
Matador Resources Co6.875% 04/15/20280.1%
Callon Petroleum Co6.375% 07/01/20260.1%
Allwyn Entertainment Financing UK PLC7.250% 04/30/20300.1%
Block Inc2.750% 06/01/20260.1%
Charles River Laboratories International Inc3.750% 03/15/20290.1%
Pinewood Finance Co Ltd3.625% 11/15/20270.1%
Kernel Holding SA6.750% 10/27/20270.1%
Benteler International AG10.500% 05/15/20280.0%
Sunac China Holdings Ltd5.950% 04/26/20240.0%
UC HOLDINGS INC.0.000% -0.0%
Moog Inc4.250% 12/15/20270.0%
IHO Verwaltungs GmbH8.750% 05/15/20280.0%
Logan Group Co Ltd4.500% 01/13/20280.0%
ZF North America Capital Inc6.875% 04/14/20280.0%
ACBL HLDG CORP0.000% -0.0%
Elwood Energy LLC8.159% 07/05/20260.0%
VUE INTERNATIONAL BIDCO P L C4.859% 12/31/20270.0%
BlueLinx Holdings Inc6.000% 11/15/20290.0%
New Frontera Holdings LLC18.159% 07/28/20260.0%
Logan Group Co Ltd5.250% 02/23/20230.0%
Sunac China Holdings Ltd6.500% 01/10/20250.0%
CCM Merger Inc6.375% 05/01/20260.0%
PARKWAY GENERATION LLC9.902% 02/18/20290.0%
Sabre GLBL Inc7.375% 09/01/20250.0%
Elanco Animal Health Inc6.650% 08/28/20280.0%
ACBL HLDG CORP0.000% -0.0%
New Frontera Holdings LLC6.659% 07/28/20280.0%
ESC 144A HERTZ CORP0.000% 01/15/20280.0%
VUE INTERNATIONAL BIDCO P L C11.086% 06/30/20270.0%
Clarivate Science Holdings Corp4.875% 07/01/20290.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
Credit Index Swap5.000% 06/20/20280.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
Shimao Group Holdings Ltd3.450% 01/11/20310.0%
FX EUR/USD 06/230.000% 06/13/20230.0%
TNT CRANE AND RIGGING0.000% -0.0%
FX EUR/USD 06/230.000% 06/13/20230.0%
FGI Operating Co LLC0.000% 05/16/20230.0%
BRITAX CHILD SAFETY INC.0.000% 03/31/20250.0%
SABLE/BIGHORN LLC UNITS0.000% -0.0%
TNT CRANE AND RIGGING0.000% -0.0%
US 2YR NOTE (CBT) Jun230.000% 07/06/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
EURO-BUND FUTURE Jun230.000% 06/12/20230.0%
FRONTERA GENERATION0.000% -0.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
PERSIMMON MIDCO LLC0.000% -0.0%
Revlon Consumer Products Corp8.144% 06/30/20250.0%
REVLON ROLL UP0.000% -0.0%
Tonon Luxembourg SA6.500% 10/31/20240.0%
Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
US 10yr Ultra Fut Jun230.000% 06/30/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
FX USD/EUR 06/230.000% 06/13/20230.0%
US 5YR NOTE (CBT) Jun230.000% 07/06/20230.0%
LAC0.010% 12/31/20500.0%
LAC0.010% 12/31/20500.0%
LAC0.010% 12/31/20500.0%
LAC0.010% 12/31/20500.0%
LAC0.010% 12/31/20500.0%
LAC0.010% 12/31/20500.0%
LAC0.010% 12/31/20500.0%
LAC0.010% 12/31/20500.0%
FX USD/GBP 06/230.000% 06/08/2023-0.1%
FX USD/EUR 06/230.000% 06/13/2023-0.1%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 04/28/2023

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Energy arrowDown0.1%
Healthcare arrowUp0.6%
Consumer, Cyclical^entertainment^lottery Services -
Consumer Goods arrowDown0.1%
Insurance 0.0%
Services arrowDown0.3%
Automotive arrowUp0.1%
Financial Services arrowDown0.3%
Technology & Electronics arrowUp0.3%
Telecommunications arrowDown0.3%
Real Estate arrowDown0.2%
Basic Industry arrowDown0.2%
Media arrowUp0.2%
Leisure arrowUp0.1%
Capital Goods arrowUp0.7%
Transportation arrowDown0.1%
Utility 0.0%
Other arrowUp0.1%
Retail arrowDown0.6%
Banking arrowDown0.1%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 06/09/2023
$0.16051
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2023 $0.03354 $6.09
Daily Daily 04/30/2023 $0.03321 $6.20
Daily Daily 03/31/2023 $0.03109 $6.18
Daily Daily 02/28/2023 $0.03233 $6.13
Daily Daily 01/31/2023 $0.03034 $6.27

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 06/30/2023
Daily Daily 07/31/2023
Daily Daily 08/31/2023
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 - $0.0100 $0.0100 $7.45
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 06/09/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $6.28
$100,000 to $249,999 1.75% 1.50% $6.25
$250,000 to $499,999 1.25% 1.00% $6.22
$500,000 to $999,999 0.00% 1.00% $6.14
$1,000,000 to $5,000,000 0.00% 1.00% $6.14

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

Expense Ratioas of 05/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.90% 0.90%

Fund Documents

Fund Documents

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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